Since the inception of bitcoin in 2009, thousands more have sprung up with each of them having their distinctiveness. Bitcoin is often referred to as the king of cryptocurrency each of the other thousands of cryptocurrencies falls under the class of altcoins; be it Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Monero (XMR), EOS (EOS), TRON (TRX), etc.
All altcoins have their uniqueness in the sense of how they are mined, their nature (whether or centralized or decentralized), underlying technology, speed of transaction, coin distribution mechanism, etc. Although bitcoin is always used as the yardstick when analyzing an altcoin, some altcoins outshine bitcoin in certain specs. Several altcoins are developed on Bitcoin’s framework.
Altcoins are sub-divided into three categories namely; stablecoins, utility tokens, and security tokens. For example, stablecoins such as Tether (USDT), Binance Coin (BNB), Gemini USD (GUSD), USD Coin (USDC), etc. are known to be less volatile than Bitcoin because they are pegged to fiat currencies. However, some altcoins fall under more than one of these categories. You will find more information in altcoin news category.
Altcoins are getting thumbs up from different quarters for playing a significant role in the expansion of boundaries of blockchain adoption and applications. For example, Ethereum is known for its robust blockchain that enables faster transaction time as well as the creation of decentralized applications (dApps). At the time of launch, most altcoins sell themselves as better alternatives to existing ones and usually attempt to improve on the setbacks of known altcoins.
According to CoinMarketCap, there are over five thousand digital currencies in April 2020 although BTC has a staggering 64% dominance in the crypto market. As a crypto investor and enthusiast, stay tuned to coinspeaker.com to get the latest altcoins news around the world to keep you updated and geared up in the crypto space.
Bitcoin price suddenly spiked over the weekend and the stablecoin industry has been attributed to the change in price.
The latest funding to Alchemix will help its developers to commit to full-time developments. Besides, it will help the DeFi protocol to boost its other activities of hiring and marketing.
ethbox will offer the chance to stake holdings for a return on investment and users will be able to share in the product’s overall success via a rev-share deal.
The report that alleges the Binance exchange is being investigated came days after the company announced former United States Senator and Ambassador to China Max Baucus will be joining the firm to advise it on policy and government relations.
Generally, the crypto market has been surging over the past months, resulting in an increase in several digital assets.
Both Ripple Labs execs have filed to squash SEC subpoenas to six banks that they provide personal financial information as part of the lawsuit.
In a bid to offer more incentives to its investors, traders, and global supporters, the Binance exchange has launched a revised version of staking reward for BNB holders.
The crypto lender BlockFi has noted as one of its many plans to utilize the new capital boost to accelerate the expansion of its services into new markets.
Christie’s auction house noted that 91% of the 33 bidders for the Beeple NFT were new to the platform.
CoinShares stock opened the day at 81.9 SEK and closed at 109.12 SEK. This translates into a market cap of 7.3 billion SEK ($860M) and 33% price jump.
Lepricon’s mission is to combine a hyper-casual gaming experience focused on prediction games with decentralized finance elements.
The Leaderboard is expected to include new features and sections in the future.
Baucus has become an adviser for Binance amid the increasing global interest in cryptocurrencies and the adoption of digital assets .
The third stimulus bill is set for signing in the next few days. Here is how investors can take full advantage of their stimulus checks.
The auction has received fewer than 100 views and there has been no bid yet.